Bulldog Investors, LLP
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Bulldog Investors, LLP reported 104 stock positions worth $368.5 million. Its top holding was SRH Total Return Fund (STEW) at 5.7% of the portfolio, followed by Cion Investment (CION, 4.8%) and General American Investors (GAM, 4.7%). Compared with Q4 2024, it opened 17 new positions, sold out of 16, added to 24 and reduced 41. The biggest buy was a new position in Roman DBDR Acquisition (DRDB) and the biggest sale an exit from Tort Electf Infra ETF-Usd (TPZ).
- Most Recent 13F
- Q2 2026
- Location
- SADDLE BROOK, NJ
- CIK
- 0001504304
- Portfolio Value
- $368.5M (Q1 2025)
- SEC Filing
- 0001398344-25-009632 ↗ filed May 15, 2025
Holdings Value
Holdings 104 stocks · $368.5M
| STEW SRH Total Return Fund Inc. | 5.69% | 1,214,710 | $21.0M | Reduce -0.6% |
| CION Cion Investment Corp. | 4.76% | 1,694,446 | $17.5M | Add +0.7% |
| GAM General American Investors | 4.68% | 342,110 | $17.2M | Add +5.4% |
| DSM BNYM Strat Muni BND filed as BNY MELLON STRATEGIC MUN BD | 3.96% | 2,527,427 | $14.6M | Add +20.3% |
| AFB Allianceberstein NTL Muni | 3.21% | 1,088,848 | $11.8M | Add +15.8% |
| CET Central Securities Corp. | 3.12% | 256,096 | $11.5M | Add +1.4% |
| DMF BNYM Municipal Income filed as BNY MELLON MUN INCOME INC | 3.11% | 1,598,380 | $11.5M | Add +0.6% |
| NBXG Neuberger Next Generation Co. | 2.98% | 897,831 | $11.0M | Add +51.9% |
| TPL Texas Pacific Land Corp. | 2.88% | 8,000 | $10.6M | Reduce -0.3% |
| XCMUX MFS High Yield Municipal TR | 2.49% | 2,625,516 | $9.2M | Add +11.9% |
| TRC Tejon Ranch Co. | 2.28% | 529,999 | $8.4M | Add +32.1% |
| RWAY Runway Growth Finance Corp. | 2.23% | 795,306 | $8.2M | Reduce -0.9% |
| XGDVX Gabelli Dividend & Income TR | 1.97% | 301,228 | $7.3M | Reduce -0.0% |
| HAYMAKER ACQUISITION CORP 4 | 1.96% | 656,679 | $7.2M | Reduce -6.9% |
| CNNE Cannae Holdings Inc. | 1.90% | 380,987 | $7.0M | Add +41.3% |
| IIF Morgan Stanley India Invest | 1.89% | 285,829 | $7.0M | Reduce -0.6% |
| CXH MFS Investment Grade Muni | 1.85% | 859,308 | $6.8M | Add +20.9% |
| VLOS Velos Acquisition I Corp. filed as M3BRIGADE ACQUISITION V CORP | 1.76% | 637,025 | $6.5M | Add +10.3% |
| ARES ACQUISITION CORP II | 1.51% | 498,969 | $5.6M | Reduce -4.6% |
| LPAA Launch One Acquisition Corp. | 1.51% | 544,674 | $5.6M | Reduce -3.3% |
| TYG Tortoise Energy Infrastruct | 1.49% | 127,349 | $5.5M | Reduce -33.0% |
| LRFC Logan Ridge Finance Corp. | 1.43% | 240,279 | $5.3M | Add +9.5% |
| CUB Lionheart Holdings Class A | 1.43% | 513,302 | $5.3M | Reduce -5.8% |
| AAM Aa Mission Acquisition Cor-A | 1.42% | 502,894 | $5.2M | Reduce -6.3% |
| XENWX Eaton Vance New York Municip | 1.40% | 542,471 | $5.1M | Reduce -24.1% |
| DRDB Roman DBDR Acquisition Corp. | 1.35% | 495,000 | $5.0M | New |
| SIMA Sim Acquisition Corp. I-A | 1.21% | 436,806 | $4.5M | Add +191.2% |
| GF The New Germany Fund Inc. | 1.19% | 446,513 | $4.4M | Add +28.8% |
| FTW Eqv Ventures Acquisition C-A | 1.10% | 402,200 | $4.1M | No change |
| ALF Centurion Acquisition Corp. | 1.09% | 393,912 | $4.0M | Reduce -6.7% |
| CEP Cantor Equity Partners Inc. | 1.08% | 370,826 | $4.0M | Reduce -4.3% |
| VACH Voyager Acquisition Corp. | 1.08% | 390,284 | $4.0M | No change |
| JACS Jackson Acquisition Co. Class A | 1.07% | 392,369 | $3.9M | New |
| PGZ Principal Real Estate Income | 1.06% | 369,396 | $3.9M | No change |
| HDRN Hadron Energy Inc. filed as GIGCAPITAL7 CORP | 0.98% | 358,013 | $3.6M | No change |
| DMA Destra Multi-Alternative | 0.90% | 392,993 | $3.3M | No change |
| SBXDF Silverbox Corp. IV-A | 0.86% | 309,996 | $3.2M | Reduce -7.7% |
| BCIC BCP Investment Corp. filed as PORTMAN RIDGE FIN CORP | 0.84% | 216,546 | $3.1M | No change |
| BTX BlackRock Tech & Priv Eqty | 0.84% | 492,332 | $3.1M | Add +68.2% |
| GDL GDL Fund | 0.82% | 367,511 | $3.0M | New |
| POLE Andretti Acquisition Corp. Class A | 0.82% | 298,499 | $3.0M | Reduce -9.6% |
| DYNC Dynamix Corp. | 0.81% | 298,609 | $3.0M | Add +41.1% |
| IMSR Terrestrial Energy Inc. filed as HCM II ACQUISITION CORP | 0.79% | 275,903 | $2.9M | Reduce -21.1% |
| KTF DWS Municipal Income Trust | 0.78% | 306,283 | $2.9M | Reduce -32.6% |
| ECF Ellsworth Growth and Income | 0.77% | 312,463 | $2.8M | Reduce -0.6% |
| TONT Graf Global Corp. Class A | 0.76% | 272,386 | $2.8M | Reduce -8.6% |
| RFAI RF Acquisition Corp. II | 0.68% | 239,878 | $2.5M | No change |
| TAVI Tavia Acquisition Corp. | 0.63% | 232,657 | $2.3M | Reduce -3.6% |
| CAPN Cayson Acquisition Corp. | 0.62% | 224,750 | $2.3M | Reduce -0.1% |
| DRDBU Roman DBDR Acquisition Corp. | 0.60% | 215,045 | $2.2M | Reduce -70.3% |
| SWZ Total Return Securities Fund | 0.59% | 237,472 | $2.2M | No change |
| LPBB Launch Two Acquisition Class A | 0.57% | 206,569 | $2.1M | Add +61.2% |
| FACT Fact II Acquisition Corp. | 0.53% | 194,000 | $1.9M | New |
| LEGT Legato Merger Corp. III | 0.51% | 178,048 | $1.9M | Reduce -15.1% |
| NETD Nabors Energy Transition C-A | 0.50% | 166,987 | $1.8M | Reduce -40.6% |
| RANG Range Capital Acquisition Co. | 0.48% | 175,000 | $1.8M | New |
| OFS Ofs Capital Corp. | 0.46% | 182,409 | $1.7M | Add +60.6% |
| IBAC Ib Acquisition Corp. | 0.43% | 153,230 | $1.6M | Reduce -19.3% |
| LPBBU Launch Two Acquisition Corp. | 0.42% | 151,097 | $1.5M | Reduce -34.1% |
| SPKLF Spark I Acquisition Corp. | 0.39% | 133,951 | $1.4M | Reduce -10.5% |
| UCFI CN Healthy Food Tech Group C filed as IRON HORSE ACQUISITIONS CORP | 0.37% | 130,175 | $1.4M | Reduce -16.3% |
| DTSQ DT Cloud Star Acquisition Co. | 0.36% | 130,956 | $1.3M | Add +161.9% |
| DMAAU Drugs Made in America Acquis | 0.36% | 130,264 | $1.3M | New |
| FERAU Fifth Era Acquisition Corp. I | 0.34% | 123,627 | $1.2M | New |
| GLO Clough Global Opportunities | 0.34% | 254,583 | $1.2M | No change |
| RANGU Range Capital Acquisition Co. | 0.33% | 119,820 | $1.2M | Reduce -61.9% |
| CCIX Churchill Capital Corp. Ix | 0.33% | 114,065 | $1.2M | No change |
| GLACF Global Lights Acquisition Co. | 0.31% | 106,627 | $1.2M | New |
| NSLR Neostellar Capital Corp. filed as SURO CAPITAL CORP | 0.31% | 231,062 | $1.1M | Add +60.1% |
| NBH Neuberger Municipal Fund Inc. | 0.30% | 107,709 | $1.1M | Reduce -61.1% |
| YHNA YHN Acquisition I Ltd. | 0.30% | 109,530 | $1.1M | New |
| SEG Seaport Entertainment Group | 0.29% | 50,000 | $1.1M | Add +29.8% |
| EURK Eureka Acquisition Corp. | 0.28% | 101,000 | $1.0M | No change |
| CEPO Cantor Equity Partners I-A | 0.28% | 100,000 | $1.0M | New |
| PFX Phenixfin Corp. | 0.28% | 19,218 | $1.0M | No change |
| NHICU Newhold Investment Corp. III | 0.28% | 101,000 | $1.0M | New |
| BEAG Bold Eagle Acquisition Cor-A | 0.28% | 100,000 | $1.0M | No change |
| NXDT Nexpoint Diversified Real Es | 0.27% | 264,468 | $1.0M | No change |
| COLOMBIER ACQUISITION CORP | 0.27% | 92,617 | $986K | Reduce -17.0% |
| HHH Howard Hughes Holdings Inc. | 0.24% | 12,000 | $889K | No change |
| MAYWOOD ACQUISITION CORP | 0.24% | 86,521 | $883K | New |
| MXE Mexico Equity and Income FD | 0.24% | 101,158 | $882K | No change |
| ZTR Virtus Total Return Fund Inc. | 0.23% | 139,878 | $835K | Reduce -61.4% |
| CXE MFS High Income Municipal TR | 0.22% | 222,985 | $823K | New |
| ALDF Aldel Financial II Inc. | 0.21% | 78,050 | $789K | Reduce -16.6% |
| CHEB Chenghe Acquisition II Co. | 0.21% | 73,876 | $757K | Reduce -24.2% |
| BACQU Bleichroeder Acquisition Cor | 0.20% | 71,303 | $725K | Reduce -52.3% |
| FACTU Fact II Acquisition Corp. | 0.19% | 71,091 | $716K | Reduce -73.2% |
| BCV Bancroft Fund Ltd. | 0.19% | 39,448 | $687K | Add +0.7% |
| ICMB Investcorp Credit Management | 0.18% | 211,397 | $679K | Add +175.1% |
| M Macy's Inc. | 0.17% | 50,000 | $628K | No change |
| BRW Saba Capital Income & Opport | 0.15% | 73,191 | $568K | Reduce -64.6% |
| SPAQ Horizon Kinetics Spac Active | 0.14% | 5,200 | $524K | No change |
| FRNM Freenome Inc. filed as PERCEPTIVE CAP SOLUTIONS COR | 0.14% | 50,000 | $515K | No change |
| MRLN Merlin Inc. filed as BLEICHROEDER ACQUISITION COR | 0.11% | 39,020 | $391K | New |
| JACS.U Jackson Acquisition Co. II | 0.10% | 35,823 | $369K | Reduce -80.2% |
| LMNR Limoneira Co. | 0.10% | 20,000 | $354K | No change |
| EDD Morgan Stanley Emrg MRK Dom | 0.07% | 55,414 | $260K | No change |
| BAYA Bayview Acquisition Corp. Class A | 0.06% | 21,044 | $229K | No change |
| JVSA Jvspac Acquisition Corp. Class A | 0.06% | 20,471 | $218K | Reduce -15.1% |
Other holdings (38): bonds, preferreds, convertibles and warrants · $1.1M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| IMSRW HCM II Acquisition Corp. - 29 | *W EXP 99/99/999 | 119,400 | $82K | Reduce -4.5% |
| DRDBW Roman DBDR Acquisition -30 | *W EXP 10/31/203 | 247,500 | $79K | Reduce -31.6% |
| VLOSW M3-Brigade Acquisition -30 | *W EXP 99/99/999 | 231,064 | $62K | Reduce -2.8% |
| FSHPR Flag Ship Acquisition Corp. | RIGHT 03/31/2026 | 275,000 | $54K | No change |
| Colombier Acquisition - 29 | *W EXP 11/24/202 | 66,296 | $53K | Reduce -27.6% |
| EQV VENTURES ACQUISITION | *W EXP 07/01/203 | 134,066 | $48K | No change |
| LPAAW Launch One Acquisition - 29 | *W EXP 06/01/203 | 269,118 | $39K | Reduce -3.4% |
| HDRNW GIGCAPITAL7 Corp.-A - 29 | *W EXP 08/29/202 | 358,013 | $34K | No change |
| CUBWW Lionheart Holdings - WT | *W EXP 06/07/203 | 256,635 | $31K | Reduce -5.8% |
| JACKSON ACQUISITION CO II | RIGHT 99/99/9999 | 129,800 | $30K | Reduce -28.4% |
| DYNCW Dynamix Corp. - 29 | *W EXP 10/25/202 | 105,820 | $30K | New |
| RANGR Range Capital Acquisition Co. | RIGHT 99/99/9999 | 175,000 | $30K | Reduce -44.3% |
| ALFUW Centurion Acquisition - 29 | *W EXP 05/31/203 | 196,956 | $30K | Reduce -6.7% |
| VACHW Voyager Acquisition Corp. -CW | *W EXP 05/16/203 | 195,142 | $29K | No change |
| IBACR Ib Acquisition Corp.-RTS | RIGHT 09/28/2026 | 513,699 | $29K | Reduce -6.6% |
| IROHR Iron Horse Acquisitions Righ | RIGHT 99/99/9999 | 94,714 | $28K | Reduce -19.4% |
| SIMAW Sim Acquisition Corp. - 29 | *W EXP 06/01/203 | 218,403 | $28K | Add +9.2% |
| CAPNR Cayson Acquisition Corp. | RIGHT 99/99/9999 | 195,000 | $27K | No change |
| POLEW Andretti Acquisition Corp.-29 | *W EXP 06/01/203 | 145,619 | $26K | Add +87.7% |
| SBXWF Silverbox Corp. IV-A- 29 | *W EXP 08/19/202 | 71,318 | $25K | Add +58.5% |
| TONT.WS Graf Global Corp.- 29 | *W EXP 05/31/203 | 136,184 | $25K | Reduce -8.6% |
| CCIXW Churchill Capital Corp. I-29 | *W EXP 03/31/203 | 29,456 | $24K | Add +2.1% |
| BEAGR Bold Eagle Acquisition Corp. | RIGHT 10/11/2029 | 100,000 | $23K | No change |
| TAVIR Tavia Acquisition Corp. | RIGHT 11/26/2029 | 182,657 | $22K | New |
| TBMCR Trailblazer Merger Corp.-RTS | RIGHT 04/21/2028 | 90,651 | $20K | Reduce -11.2% |
| FACTW Fact II Acquisition Corp. -29 | *W EXP 11/26/203 | 97,000 | $17K | New |
| LEGT.WS Legato Merger Corp. III-29 | *W EXP 05/08/203 | 88,513 | $17K | Reduce -14.8% |
| AAM.WS Aa Mission Acquisition -30 | *W EXP 08/01/203 | 251,434 | $17K | Reduce -6.3% |
| DTSQR DT Cloud Star Acquisition Co. | RIGHT 07/09/2029 | 100,000 | $16K | No change |
| LPBBW Launch Two Acquisition -29 | *W EXP 10/09/202 | 60,993 | $13K | Add +46.8% |
| EURKR Eureka Acquisition Corp.-RTS | RIGHT 07/03/2026 | 51,000 | $12K | No change |
| ALDFW Aldel Financial II Inc. - 29 | *W EXP 09/26/203 | 39,025 | $12K | New |
| ATMVR Alphavest Acquisition Co.-RT | RIGHT 01/22/2026 | 47,096 | $11K | Reduce -6.8% |
| YHNAR YHN Acquisition I Ltd. | RIGHT 08/15/2029 | 60,185 | $8K | New |
| BACQR Inflection Point Acquisition | RIGHT 11/04/2026 | 39,020 | $8K | New |
| JVSAR Jvspac Acquisition Corp.-RTS | RIGHT 11/26/2026 | 21,423 | $5K | Reduce -14.5% |
| HYAC.WS Haymaker Acquisition Corp.-28 | *W EXP 05/31/202 | 21,039 | $4K | Reduce -11.6% |
| UCFIW Iron Horse Acquisition Co.-29 | *W EXP 09/30/203 | 96,796 | $3K | Reduce -19.1% |
Total filed on the 13F, all lines: $369.6M.
Portfolio Sells Q4 2024 → Q1 2025
| TPZ Tort Electf Infra ETF-Usd Inc. | Sold out | 0.00% | −3.07 |
| DRDBU Roman DBDR Acquisition Corp. | Reduce -70.3% | 0.60% | −1.29 |
| NEW AMERICA HIGH INCOME FUND | Sold out | 0.00% | −1.19 |
| QETA Quetta Acquisition Corp. | Sold out | 0.00% | −0.95 |
| CEE Central and Eastern Europe F | Sold out | 0.00% | −0.75 |
| CCIRU Cohen Circle Acquisition Cor | Sold out | 0.00% | −0.65 |
| TYG Tortoise Energy Infrastruct | Reduce -33.0% | 1.49% | −0.61 |
| BOWN Bowen Acquisition Corp. | Sold out | 0.00% | −0.51 |
| FACTU Fact II Acquisition Corp. | Reduce -73.2% | 0.19% | −0.50 |
| RANGU Range Capital Acquisition Co. | Reduce -61.9% | 0.33% | −0.49 |
| NBH Neuberger Municipal Fund Inc. | Reduce -61.1% | 0.30% | −0.45 |
| MACI Melar Acquisition Corp. I-A | Sold out | 0.00% | −0.40 |
| XENWX Eaton Vance New York Municip | Reduce -24.1% | 1.40% | −0.39 |
| JACS.U Jackson Acquisition Co. II | Reduce -80.2% | 0.10% | −0.38 |
| KTF DWS Municipal Income Trust | Reduce -32.6% | 0.78% | −0.34 |
| YHNAU YHN Acquisition I Ltd. | Sold out | 0.00% | −0.34 |
| ZTR Virtus Total Return Fund Inc. | Reduce -61.4% | 0.23% | −0.33 |
| NETD Nabors Energy Transition C-A | Reduce -40.6% | 0.50% | −0.30 |
| RDAC Rising Dragon Acquisition Co. | Sold out | 0.00% | −0.26 |
| BRW Saba Capital Income & Opport | Reduce -64.6% | 0.15% | −0.26 |
| HFRO Highland Opport & Income | Reduce -93.7% | 0.02% | −0.22 |
| CII BlackRock Enhan LRG Cap Core | Sold out | 0.00% | −0.21 |
| BACQU Bleichroeder Acquisition Cor | Reduce -52.3% | 0.20% | −0.20 |
| LPBBU Launch Two Acquisition Corp. | Reduce -34.1% | 0.42% | −0.18 |
| HERZ Herzfeld Credit Income Fund | Sold out | 0.00% | −0.17 |
| SIMAU Sim Acquisition Corp. I | Sold out | 0.00% | −0.14 |
| EQC Equity Commonwealth | Sold out | 0.00% | −0.13 |
| ASPCU A Spac III Acquisition Corp. | Sold out | 0.00% | −0.13 |
| IMSR Terrestrial Energy Inc. | Reduce -21.1% | 0.79% | −0.13 |
| AEF Abrdn Emerging Markets Ex CH | Sold out | 0.00% | −0.10 |
| COLOMBIER ACQUISITION CORP | Reduce -17.0% | 0.27% | −0.08 |
| IBAC Ib Acquisition Corp. | Reduce -19.3% | 0.43% | −0.07 |
| AAPL Apple Inc. | Sold out | 0.00% | −0.07 |
| RWAY Runway Growth Finance Corp. | Reduce -0.9% | 2.23% | −0.07 |
| LEGT Legato Merger Corp. III | Reduce -15.1% | 0.51% | −0.06 |
| CHEB Chenghe Acquisition II Co. | Reduce -24.2% | 0.21% | −0.05 |
| UCFI CN Healthy Food Tech Group C | Reduce -16.3% | 0.37% | −0.05 |
| POLE Andretti Acquisition Corp. Class A | Reduce -9.6% | 0.82% | −0.05 |
| ALDF Aldel Financial II Inc. | Reduce -16.6% | 0.21% | −0.03 |
| SBXDF Silverbox Corp. IV-A | Reduce -7.7% | 0.86% | −0.03 |
| TONT Graf Global Corp. Class A | Reduce -8.6% | 0.76% | −0.03 |
| HAYMAKER ACQUISITION CORP 4 | Reduce -6.9% | 1.96% | −0.03 |
| ECF Ellsworth Growth and Income | Reduce -0.6% | 0.77% | −0.03 |
| SPKLF Spark I Acquisition Corp. | Reduce -10.5% | 0.39% | −0.03 |
| ALF Centurion Acquisition Corp. | Reduce -6.7% | 1.09% | −0.02 |
| IIF Morgan Stanley India Invest | Reduce -0.6% | 1.89% | −0.02 |
| TAVI Tavia Acquisition Corp. | Reduce -3.6% | 0.63% | −0.01 |
| CUB Lionheart Holdings Class A | Reduce -5.8% | 1.43% | −0.01 |
| JVSA Jvspac Acquisition Corp. Class A | Reduce -15.1% | 0.06% | −0.01 |
| AAM Aa Mission Acquisition Cor-A | Reduce -6.3% | 1.42% | +0.00 |
Portfolio Buys Q4 2024 → Q1 2025
| DRDB Roman DBDR Acquisition Corp. | New | 1.35% | +1.35 |
| JACS Jackson Acquisition Co. Class A | New | 1.07% | +1.07 |
| NBXG Neuberger Next Generation Co. | Add +51.9% | 2.98% | +1.01 |
| GDL GDL Fund | New | 0.82% | +0.82 |
| SIMA Sim Acquisition Corp. I-A | Add +191.2% | 1.21% | +0.82 |
| DSM BNYM Strat Muni BND | Add +20.3% | 3.96% | +0.76 |
| TRC Tejon Ranch Co. | Add +32.1% | 2.28% | +0.61 |
| AFB Allianceberstein NTL Muni | Add +15.8% | 3.21% | +0.53 |
| FACT Fact II Acquisition Corp. | New | 0.53% | +0.53 |
| CNNE Cannae Holdings Inc. | Add +41.3% | 1.90% | +0.49 |
| GF The New Germany Fund Inc. | Add +28.8% | 1.19% | +0.48 |
| RANG Range Capital Acquisition Co. | New | 0.48% | +0.48 |
| CXH MFS Investment Grade Muni | Add +20.9% | 1.85% | +0.36 |
| DMAAU Drugs Made in America Acquis | New | 0.36% | +0.36 |
| GAM General American Investors | Add +5.4% | 4.68% | +0.34 |
| FERAU Fifth Era Acquisition Corp. I | New | 0.34% | +0.34 |
| XCMUX MFS High Yield Municipal TR | Add +11.9% | 2.49% | +0.32 |
| GLACF Global Lights Acquisition Co. | New | 0.31% | +0.31 |
| YHNA YHN Acquisition I Ltd. | New | 0.30% | +0.30 |
| CEPO Cantor Equity Partners I-A | New | 0.28% | +0.28 |
| NHICU Newhold Investment Corp. III | New | 0.28% | +0.28 |
| BTX BlackRock Tech & Priv Eqty | Add +68.2% | 0.84% | +0.27 |
| DYNC Dynamix Corp. | Add +41.1% | 0.81% | +0.26 |
| VLOS Velos Acquisition I Corp. | Add +10.3% | 1.76% | +0.24 |
| MAYWOOD ACQUISITION CORP | New | 0.24% | +0.24 |
| LPBB Launch Two Acquisition Class A | Add +61.2% | 0.57% | +0.23 |
| DTSQ DT Cloud Star Acquisition Co. | Add +161.9% | 0.36% | +0.23 |
| CXE MFS High Income Municipal TR | New | 0.22% | +0.22 |
| OFS Ofs Capital Corp. | Add +60.6% | 0.46% | +0.22 |
| DMF BNYM Municipal Income | Add +0.6% | 3.11% | +0.16 |
| ICMB Investcorp Credit Management | Add +175.1% | 0.18% | +0.12 |
| CET Central Securities Corp. | Add +1.4% | 3.12% | +0.11 |
| MRLN Merlin Inc. | New | 0.11% | +0.11 |
| NSLR Neostellar Capital Corp. | Add +60.1% | 0.31% | +0.09 |
| UYSCU Uy Scuti Acquisition Corp. | New | 0.06% | +0.06 |
| XJEQX Abrdn Japan Equity Fund Inc. | New | 0.05% | +0.05 |
| OACC Oaktree Acquisition Corp. I-A | New | 0.04% | +0.04 |
| SEG Seaport Entertainment Group | Add +29.8% | 0.29% | +0.01 |
| LRFC Logan Ridge Finance Corp. | Add +9.5% | 1.43% | +0.01 |
| BCV Bancroft Fund Ltd. | Add +0.7% | 0.19% | +0.00 |
| CION Cion Investment Corp. | Add +0.7% | 4.76% | −0.26 |
Notes & Other Activity Q4 2024 → Q1 2025
| IMSRW HCM II Acquisition Corp. - 29 | *W EXP 99/99/999 | Reduce -4.5% | 119,400 | $82K |
| DRDBW Roman DBDR Acquisition -30 | *W EXP 10/31/203 | Reduce -31.6% | 247,500 | $79K |
| VLOSW M3-Brigade Acquisition -30 | *W EXP 99/99/999 | Reduce -2.8% | 231,064 | $62K |
| Colombier Acquisition - 29 | *W EXP 11/24/202 | Reduce -27.6% | 66,296 | $53K |
| LPAAW Launch One Acquisition - 29 | *W EXP 06/01/203 | Reduce -3.4% | 269,118 | $39K |
| CUBWW Lionheart Holdings - WT | *W EXP 06/07/203 | Reduce -5.8% | 256,635 | $31K |
| JACKSON ACQUISITION CO II | RIGHT 99/99/9999 | Reduce -28.4% | 129,800 | $30K |
| DYNCW Dynamix Corp. - 29 | *W EXP 10/25/202 | New | 105,820 | $30K |
| RANGR Range Capital Acquisition Co. | RIGHT 99/99/9999 | Reduce -44.3% | 175,000 | $30K |
| ALFUW Centurion Acquisition - 29 | *W EXP 05/31/203 | Reduce -6.7% | 196,956 | $30K |
| IBACR Ib Acquisition Corp.-RTS | RIGHT 09/28/2026 | Reduce -6.6% | 513,699 | $29K |
| SIMAW Sim Acquisition Corp. - 29 | *W EXP 06/01/203 | Add +9.2% | 218,403 | $28K |
| IROHR Iron Horse Acquisitions Righ | RIGHT 99/99/9999 | Reduce -19.4% | 94,714 | $28K |
| POLEW Andretti Acquisition Corp.-29 | *W EXP 06/01/203 | Add +87.7% | 145,619 | $26K |
| SBXWF Silverbox Corp. IV-A- 29 | *W EXP 08/19/202 | Add +58.5% | 71,318 | $25K |
| TONT.WS Graf Global Corp.- 29 | *W EXP 05/31/203 | Reduce -8.6% | 136,184 | $25K |
| CCIXW Churchill Capital Corp. I-29 | *W EXP 03/31/203 | Add +2.1% | 29,456 | $24K |
| TAVIR Tavia Acquisition Corp. | RIGHT 11/26/2029 | New | 182,657 | $22K |
| TBMCR Trailblazer Merger Corp.-RTS | RIGHT 04/21/2028 | Reduce -11.2% | 90,651 | $20K |
| FACTW Fact II Acquisition Corp. -29 | *W EXP 11/26/203 | New | 97,000 | $17K |
| LEGT.WS Legato Merger Corp. III-29 | *W EXP 05/08/203 | Reduce -14.8% | 88,513 | $17K |
| AAM.WS Aa Mission Acquisition -30 | *W EXP 08/01/203 | Reduce -6.3% | 251,434 | $17K |
| RDACR Rising Dragon Acquisition Co. | RIGHT 11/15/2028 | Sold out | 100,000 | $14Kbefore exit |
| LPBBW Launch Two Acquisition -29 | *W EXP 10/09/202 | Add +46.8% | 60,993 | $13K |
| ALDFW Aldel Financial II Inc. - 29 | *W EXP 09/26/203 | New | 39,025 | $12K |
| ATMVR Alphavest Acquisition Co.-RT | RIGHT 01/22/2026 | Reduce -6.8% | 47,096 | $11K |
| USARW Inflection Point Acquis-C-28 | *W EXP 08/31/202 | Sold out | 21,003 | $11Kbefore exit |
| MACIW Melar Acquisition Corp. I -29 | *W EXP 06/01/203 | Sold out | 75,000 | $9Kbefore exit |
| YHNAR YHN Acquisition I Ltd. | RIGHT 08/15/2029 | New | 60,185 | $8K |
| BACQR Inflection Point Acquisition | RIGHT 11/04/2026 | New | 39,020 | $8K |
| RFAIR RF Acquisition Corp. II | RIGHT 05/01/2026 | Sold out | 100,556 | $6Kbefore exit |
| JVSAR Jvspac Acquisition Corp.-RTS | RIGHT 11/26/2026 | Reduce -14.5% | 21,423 | $5K |
| ATMCR Alphatime Acquisition-Right | RIGHT 03/01/2028 | Sold out | 37,807 | $5Kbefore exit |
| GLSTR Global Star Acquisition-RTS | RIGHT 99/99/9999 | Sold out | 31,810 | $5Kbefore exit |
| HYAC.WS Haymaker Acquisition Corp.-28 | *W EXP 05/31/202 | Reduce -11.6% | 21,039 | $4K |
| UCFIW Iron Horse Acquisition Co.-29 | *W EXP 09/30/203 | Reduce -19.1% | 96,796 | $3K |
| CHEB.WS Chenghe Acquisition II - 29 | *W EXP 05/30/203 | Sold out | 48,387 | $2Kbefore exit |
| ATMCW Alphatime Acquisition Cor-28 | *W EXP 03/01/202 | Sold out | 38,408 | $768before exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 148 | $452.4M | STEW, CET, NBXG, GAM, DSM |
| Q1 2026 | 146 | $443.1M | STEW, DSM, CET, GAM, TPL |
| Q4 2025 | 148 | $446.2M | STEW, DSM, CET, GAM, NBXG |
| Q3 2025 | 138 | $429.6M | GAM, STEW, CET, NBXG, DSM |
| Q2 2025 | 125 | $393.5M | STEW, GAM, CET, NBXG, CION |
| Q1 2025 | 104 | $368.5M | STEW, CION, GAM, DSM, AFB |
| Q4 2024 | 105 | $382.1M | STEW, CION, GAM, DSM, TPZ |
| Q3 2024 | 99 | $297.1M | STEW, GAM, CION, CET, TPL |
| Q2 2024 | 99 | $267.2M | STEW, GAM, CION, CET, EVE |
| Q1 2024 | 109 | $302.2M | STEW, GAM, KTF, CION, CET |